According to Sofcom IT News, Sydney businessman Albert Hadid has just lost his massive damages claim against Lenfest and Australis Media.
This was over a claim that the companies allegedly conspired to deceive and mislead him in the sale of his pay-television satellite licence.
The decision in December 1999 brought to an end one of the most complicated takeover moves in the history of Australian pay television involving failed pay-TV operator Australis Media, Hadid's UCOM Group and New World Telecommunications and Lenfest Communications (LCI).
The case centred on Hadid's claim that, if he had been made aware of a confidential deal between LCI and Australis, he would have sought and obtained a higher price for the sale of his satellite licence to LCI.
Hadid now faces payment of around $A10 million in costs after losing the Federal Court case.
